USDCAD and GBPJPY Intraday

GBPJPY is in a pullback from 195.00 where we labeled end of a wave D within
a triangle. Price came down nearly 160 pips so far which looks like a wave
E in progress; a final leg that can complete wave B) correction around 192.50-193.00
area.

USDCAD is in a complex downward correction after falling to a new low today.
So we labeled end of wave X near 1.3155 as part of a double zigzag. Ideally
market will reach levels around 1.2860-1.2900 before support may be found that
will send price up into a new impulse.

Grega is based in Slovenia and has been involved in markets since 2003. He
is the owner of www.ew-forecast.com,
but before that he was working for Capital Forex Group and TheLFB.com. His
feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com,
Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com,
etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016.
At www.ew-forecast.com he helps clients
and educate them about the Elliott wave prinicple and how to label and track
unfolding patterns in real time. His approach to the markets is mainly technical.
He uses a lot of different methods when analyzing the markets such as candlestick
patterns, MA, technical indicators etc. His specialty however is Elliott Wave
Theory which could be very helpful especially if you know how to use it in
combination with other tools/indicators.

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